CRM

Salesforce, Inc. (NYSE:CRM) Insider Parker Harris Sells 2,800 Shares

June 6, 2024

22 4 minutes read

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Salesforce, Inc. (NYSE:CRM – Get Free Report) insider Parker Harris sold 2,800 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $235.99, for a total transaction of $660,772.00. Following the sale, the insider now owns 115,762 shares of the company’s stock, valued at approximately $27,318,674.38. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Parker Harris also recently made the following trade(s):

On Tuesday, May 28th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $269.26, for a total transaction of $1,130,892.00.
On Tuesday, May 21st, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $285.20, for a total value of $1,197,840.00.
On Tuesday, May 14th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $276.93, for a total value of $1,163,106.00.
On Tuesday, May 7th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $277.22, for a total value of $1,164,324.00.
On Tuesday, April 30th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $270.93, for a total value of $1,137,906.00.
On Tuesday, April 9th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $301.75, for a total value of $1,267,350.00.
On Tuesday, March 26th, Parker Harris sold 4,200 shares of Salesforce stock. The stock was sold at an average price of $306.50, for a total value of $1,287,300.00.
On Tuesday, March 19th, Parker Harris sold 4,200 shares of Salesforce stock. The shares were sold at an average price of $299.60, for a total transaction of $1,258,320.00.

Salesforce Trading Up 0.7 %

NYSE CRM opened at $236.53 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The company’s 50 day moving average price is $277.69 and its 200 day moving average price is $276.29. The firm has a market capitalization of $229.20 billion, a price-to-earnings ratio of 42.54, a PEG ratio of 2.06 and a beta of 1.25.

Salesforce (NYSE:CRM – Get Free Report) last issued its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.06. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The business had revenue of $9.13 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same quarter last year, the firm posted $1.15 EPS. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, sell-side analysts predict that Salesforce, Inc. will post 7.47 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CRM. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $350.00 target price on shares of Salesforce in a report on Friday, May 24th. Argus boosted their target price on Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Deutsche Bank Aktiengesellschaft decreased their price target on Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. Oppenheimer lowered their price target on shares of Salesforce from $325.00 to $280.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. Finally, Jefferies Financial Group lowered their target price on shares of Salesforce from $360.00 to $350.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and an average target price of $292.79.

Get Our Latest Stock Analysis on Salesforce

Institutional Investors Weigh In On Salesforce

Several institutional investors and hedge funds have recently modified their holdings of the stock. Objective Capital Management LLC lifted its position in shares of Salesforce by 10.7% during the first quarter. Objective Capital Management LLC now owns 1,035 shares of the CRM provider’s stock worth $312,000 after purchasing an additional 100 shares in the last quarter. Maxwell Wealth Strategies Inc. grew its stake in shares of Salesforce by 569.1% during the first quarter. Maxwell Wealth Strategies Inc. now owns 9,448 shares of the CRM provider’s stock valued at $2,846,000 after acquiring an additional 8,036 shares in the last quarter. Motiv8 Investments LLC increased its position in shares of Salesforce by 20.1% during the first quarter. Motiv8 Investments LLC now owns 2,448 shares of the CRM provider’s stock worth $737,000 after acquiring an additional 409 shares during the last quarter. Cetera Advisor Networks LLC lifted its stake in shares of Salesforce by 7.1% in the first quarter. Cetera Advisor Networks LLC now owns 132,020 shares of the CRM provider’s stock worth $39,762,000 after acquiring an additional 8,730 shares in the last quarter. Finally, Cetera Advisors LLC boosted its holdings in Salesforce by 27.1% in the first quarter. Cetera Advisors LLC now owns 131,076 shares of the CRM provider’s stock valued at $39,477,000 after purchasing an additional 27,976 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Company Profile

(Get Free Report)

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company’s service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.